Navent Group Ltd., a leading provider of technology solutions for the online jobs and real estate markets in Latin America, announced the closing of the sale of its online real estate technology platform business to QuintoAndar Ltd., a leading provider of online real estate solutions in Brazil for an undisclosed consideration payable in cash and equity of the buyer. This acquisition will accelerate the expansion of QuintoAndar in Latin America.
The sale included the operations of the Navent Group real estate platform in Brazil, Mexico, Argentina, Peru, Ecuador, and Panama. Among other features, the transaction contemplated a restructuring plan and carveout of Navent's job classifieds business as well as certain transition agreements.
Marval O'Farrell Mairal and Greenberg Traurig (Miami office) acted as lead counsel for the sellers, while White & Case (Houston office) and BMA acted as lead counsel to the purchaser.
Hernan Slemenson, partner at Marval O’Farrell Mairal, commented that “it was a 3 in 1 complex transaction that required a carveout of the jobs advertising business of Navent, the sale of the real estate business and the investment in equity of QuintoAndar. It has been successfully completed in a short period of time, due to the dedication and professionality of all parties involved.”
Counsel to Navent Group
In-house: general counsel Pilar Etcheverry Boneo.
Marval O’Farrell Mairal (Buenos Aires): through a team led by partner Hernán Slemenson along with associates Matías Brouchy, Fernanda Reinés and Carolina Fiuza. IP: Partners Diego Fernández and Juan Manuel Lopez Mañán, and associates Manuela Adrogué and Rocío Larovere. Tax: Partner María Ines Brandt.
Greenberg Traurig, LLP (Miami): through partner Antonio Peña, Arnaldo Rego (counsel) and foreign law clerk Humberto Molina.
Local counsel:
Cayman Islands: Campbells, through a multidisciplinary team led by partner Richard Spencer and associate Daniel Russell.
Brazil: corporate KLA Advogados through partner Karin Alvo, antitrust, Mattos Filho through partner Renata Zuccolo.
Ecuador: Spingarn, through partner Sebastián Saá Tamayo.
Peru: Philippi, Prietocarrizosa Ferrero DU & Uría, through partners Guillermo Ferrero and Veronica Vergaray, along with associate Daniela Forton.
Panama: Sucre Arias Reyes, through partner Erick Muñoz and associate Andres Castro Hernandez.
Mexico: Kuri Breña, Sánchez Ugarte y Aznar, S.C., through partner Luis Octavio Nunez Orellana and associate Alfonso Flores Pedrón.
Uruguay: Guyer & Regules, through partner Juan Manuel Mercant and counsel María Noel Riotorto.
Venezuela: D’Empaire Reyna Abogados, through a multidisciplinary team led by partners Alberto Benshimol and Roberto Mas, and associate Arianna Urribarrí.
Counsel to QuintoAndar
In-house: general counsel Ana Pellegrini and head of M&A Alessandra Boin.
White & Case LLP (Houston and Mexico City): through partners Rodrigo Dominguez, Emilio Grandío and Henri Capin (antitrust), counsel Michael Rodgers (tax) and associates Chris Hebert, Andres Calderon, Laura Campos and Juan Ignacio Lopez.
BMA Advogados: through a multidisciplinary team led by partners Miguel Ramos (corporate), Barbara Rosenberg (antitrust), Hermano Barbosa (tax), Adriana Fuzinato (due diligence) and associates Raul Rinaldo Baptista (corporate), Estêvão Nascimento Orcini (corporate), Maria Sampaio (antitrust) and Petrus Ruff do Vale (tax).
Local counsel:
Cayman Islands: Campbells, through a multidisciplinary team led by partners Charlie Pywell and Simon Thomas and associates Kate Hewitson and Jordan Roberts.
Argentina: Beccar Varela, through a multidisciplinary team led by partner Alejandro Poletto, counsel María Eugenia Radaelli and associate María Eduarda Noceti.
Ecuador: Bustamante & Bustamante, through a multidisciplinary team led by partner José María Bustamante and associate Adriana Lasso.
Peru: Miranda & Amado, through a multidisciplinary team led by partner Roberto MacLean and associate Javier Garcia.
Panama: Arias, Fabrega & Fabrega, through a multidisciplinary team led by partner Andrés N. Rubinoff and associates Daniela Delvalle, María Guardia and Ana Torres.
Uruguay: Ferrere Abogados, through a multidisciplinary team led by partner Martín Cerruti and associates Clara Porro and Florencia Fitipaldo.
Venezuela: Araque Reyna, Sosa, Viso & Pittier, through a multidisciplinary team led by partner Manuel Reyna and associate Federica Mena.